Cash Flow

v3.10.0.1
Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Cash Flows from Operating Activities    
Net loss $ (7,980,032) $ (6,549,809)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation 108,408 66,671
Stock-based compensation 512,120 402,349
Change in fair value of contingent consideration 551,098
Increase (decrease) in cash arising from changes in assets and liabilities:    
Accounts receivable 473 72,543
Prepaid expenses and other current assets (2,044,397) 68,591
Accounts payable (211,858) (202,244)
Deferred revenue (1,895,704) 1,409,212
Accrued expenses and other liabilities (830,162) (767,418)
Deferred financing costs 30,000
Other long term liabilities (4,418) (21,816)
Deposits (9,422)
Net Cash Used in Operating Activities (11,773,894) (5,521,921)
Cash Flows from Investing Activities    
Purchase of Pelican, net of cash acquired (468,801)
Purchase of property and equipment (467,251) (15,289)
Net Cash Used in Investing Activities (467,251) (484,090)
Cash Flows from Financing Activities    
Proceeds from public offering, net of underwriting discounts 20,699,997 4,183,000
Proceeds from the issuance of common stock, net of commissions 3,573,380 2,461,880
Proceeds from exercise of warrants 4,838,593
Stock issuance costs (2,049,096) (239,617)
Net Cash Provided by Financing Activities 27,062,874 6,405,263
Effect of exchange rate changes on cash, cash equivalents and restricted cash 74,815 4,971
Net (Decrease) Increase in Cash, Cash Equivalents and Restricted Cash 14,896,544 404,223
Cash, Cash Equivalents and Restricted Cash - Beginning of Period 9,765,359 7,943,838
Cash, Cash Equivalents and Restricted Cash - End of Period 24,661,903 8,348,061
Supplemental Disclosure for Cash Flow Information    
Issuance of common stock for purchase of Pelican $ 1,052,000

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